Wednesday, August 21, 2013

NextIO Hits The Deadpool

Austin-based chipmaker NextIO has filed for bankruptcy, and is looking to sell off it assets, according to reports today. The company, which had been founded in 2002, was developing I/O virtualization equipment. The company had been backed by Adams Capital Management, Crescendo Ventures, Dell Computer, JK&B Capital, and VentureTech Alliance, and had raised at least $75.0M across six rounds of funding. Its last funding was in May of last year. The shutdown was first reported by The Statesman.